July 23, 2014

Good Time to Invest In Indore Real Estate Market

Indore has been ranked one of the major upcoming markets in the country. One of the two top cities in the state of Madhya Pradesh, Indore has been a city with a flourishing IT sector. Unlike the administrative capital of Bhopal, Indore has seen economy and real estate flourishing in the past few years with corporate biggies like TCS (Tata Consultancy Services), Infosys making their way to Indore and its Super Corridor. This Super Corridor is becoming an IT hub and real estate hub in Indore, along with other developing localities like Nipania and Airport Road.

Invest In Indore Real Estate Market

A little known fact is that Indore attracts a fair number of migratory population, which has increased the demand for residential real estate in the city. This fleeting population has eventually created a demand for residential real estate that can generate rental revenue for home owners. As a results developers are buyers are looking to invest mostly in apartment property in Airport Road, Nipania and along the Super Corridor. To support the growing population and real estate development, the corporation authorities need to work on infrastructure development in the region along with improving connectivity.

If you are looking to invest in Indore there are some localities u need to look at. Property in Airport Road is in great demand due to its close proximity to the airport. North and north-west Indore are going to be specific growth clusters if experts are to be believed. Super Corridor, Aurobindo Hospital, Indore Ujjain Highway are some of the other localities that have been in the forefront of investment. The new railway station in Indore is on its way and the localities near this area is said to be one of the key developing localities as it will turn into a medicine and biotech hub along with a proposed brand new sports complex in the area.

Indore Real Estate Market

Property in Nipania along the Bypass road is another hot investment choice for the residents of Indore. This locality has several new projects and resale projects to choose from for reasonable prices. “In comparison to nearby Vijay Nagar and Mahalakshmi Nagar, prices are 10-20 per cent lower in Nipania, which is why buyers with limited budget prefer this area. Construction for the road connecting Dewas Naka to Nipania is almost complete and is expected to improve the connectivity of the area,” said Shoaib Khan, owner of PropertyIndore.Net to Times of India.

Further profiling the buyers looking for properties in Nipania, Mayank Kumawat owner of a local real estate broker firm says to TOI, “List of buyers in the area includes both high and middle-class segments. Generally, people working in the IT and motor companies buy the budget properties here, while the businessmen or people at managerial levels go for the luxurious apartments. Not only locals but people from outside the city, especially from Gujarat,Maharashtra and some NRIs are also investing here” Property in Nipania is said to reap 20 to 30 % more returns in the coming years. Today you can get apartments here for INR 60 to 80 lakhs.